The coronavirus pandemic and the resulting lockdowns on March 23, 2020 led a foreign brokerage to sharply cut India’s real GDP growth forecast for the next financial year starting April 1, to 4% from the 5.1% estimated earlier. In a note, UBS Securities said it expects India to clock a 4.8 % growth in FY20.
Out of the 14 identified focus sectors, 13 sector policies are being drafted with an addition of one Umbrella Policy 2020 for MSME, large and mega units. These sectoral policies provide for integrated development of various sectors to create business environment.
The Ministry of New and Renewable Energy (MNRE) is confident the target of achieving 100 Gigawatt (GW) of solar power generation capacity by 2022 will be met and concerted efforts are being made to sort out issues, it has told.
The Committee had said that against the target of 8,500 MW for 2019-20, the ministry had achieved 5,855 MW as on 31 January, 2020, with utilisation of Rs 1,751 crore. And for the target of 100 GW of solar capacity by 2022, as on January 31, 2020, a capacity of 34,035 MW had been installed.
The Solar Energy Corporation of India (SECI), a central public sector undertaking (CPSU) under the ministry of new and renewable energy, is planning to enter into commercial business, and set up 5,000 MW of solar-wind-storage hybrid capacity over 10 years.
Production of mining and quarrying sector grew by 4.4% in January, the Mines Ministry said. The cumulative growth for April- January 2019-20 over the corresponding period of the previous year has been 1%.